Why PDD Holdings Shares Are Surging Today
Portfolio Pulse from Anusuya Lahiri
PDD Holdings Inc reported Q1 FY23 revenue growth of 58% YoY to $5.48 billion, beating consensus of $4.53 billion. Revenues from online marketing services and others rose 50% YoY, while transaction services jumped 86% YoY. Non-GAAP earnings per ADS of $1.01 beat consensus of $0.54. PDD shares traded higher by 13.76% in the premarket.
May 26, 2023 | 12:18 pm
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PDD Holdings reported strong Q1 FY23 results, with revenue growth of 58% YoY and non-GAAP earnings per ADS beating consensus. Shares traded higher by 13.76% in the premarket.
PDD Holdings reported better-than-expected Q1 FY23 results, with significant revenue growth and non-GAAP earnings per ADS beating consensus estimates. This positive news is likely to drive the stock price higher in the short term, as evidenced by the 13.76% increase in premarket trading.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100